Free compliments
This query is : Resolved
11 August 2014
Please clarify the method of invoicing free compliments of a in house manufactured product which is also somtimes sold in open retail . The end customer wants to pay for main product value that is invoiced . My query is 1. can we put the value and charge ED /VAT & then show the value below after tax amounts as discount.or 2) Show that free compliment at Zero value . Kindly clarify with relevant Rules reference
Thanks
Regards
V K Vijayaraghavan
M 020556
Thanks
Regards
V K Vijayaraghavan
M 020556
11 August 2014
Cost of the final product can not be less than or equivalent from purchase of inputs if you are manufacturer. The transaction value of the final product can be zero but duty of excise will be payable at assessable value of the final product.
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